Party City Holdco (PRTY) Issues FY 2018 Earnings Guidance

Party City Holdco (NYSE:PRTY) updated its FY 2018 earnings guidance on Thursday. The company provided EPS guidance of $1.60-1.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.83. The company issued revenue guidance of $2.43-2.46 billion, compared to the consensus revenue estimate of $2.48 billion.Party City Holdco also updated its FY18 guidance to $1.60-1.65 EPS.

A number of brokerages have recently commented on PRTY. Credit Suisse Group set a $16.00 price target on shares of Party City Holdco and gave the stock a buy rating in a report on Friday. Deutsche Bank set a $12.00 target price on shares of Party City Holdco and gave the stock a buy rating in a research note on Friday. Telsey Advisory Group lowered their target price on shares of Party City Holdco from $19.00 to $15.00 and set an outperform rating for the company in a research note on Friday. Barclays raised shares of Party City Holdco from an equal weight rating to an overweight rating and set a $16.00 target price for the company in a research note on Friday. Finally, ValuEngine downgraded shares of Party City Holdco from a sell rating to a strong sell rating in a research note on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Party City Holdco has an average rating of Buy and an average price target of $17.33.

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Shares of NYSE PRTY opened at $10.06 on Friday. Party City Holdco has a twelve month low of $8.24 and a twelve month high of $16.95. The firm has a market cap of $966.70 million, a P/E ratio of 8.38, a PEG ratio of 0.25 and a beta of 2.19. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54.

Party City Holdco (NYSE:PRTY) last announced its earnings results on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The firm had revenue of $553.00 million for the quarter, compared to the consensus estimate of $591.77 million. During the same period in the prior year, the business earned $0.13 EPS. Party City Holdco’s quarterly revenue was down 1.3% on a year-over-year basis. On average, research analysts predict that Party City Holdco will post 1.63 EPS for the current fiscal year.

In other Party City Holdco news, Director Gerald C. Rittenberg sold 50,000 shares of Party City Holdco stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $14.08, for a total value of $704,000.00. Following the completion of the sale, the director now directly owns 3,800 shares of the company’s stock, valued at $53,504. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of Party City Holdco stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $15.50, for a total transaction of $155,000,000.00. The disclosure for this sale can be found here. 6.47% of the stock is owned by company insiders.

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About Party City Holdco

Party City Holdco Inc, through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories and novelties, stationery, and decorations.